Latvian CENOS secures €1M to democratize access to digital engineering
02 February, 2022, 18:15
CENOS, a Riga-based simulation and modeling platform for engineers, has secured €1 million seed funding from Startup Wise Guys and Capitalia, Labs of Latvia reports.
- CENOS was founded in 2017 by three Latvian PhDs in physics and mathematics Mihails Scepanskis, Raimonds Vilums, and Vadims Geza. The company promises to democratize simulation processes by ensuring easy, affordable, and secure access to computer modeling for every engineer.
- Apart from leading investors, the round was joined by several Baltic angels, including Uldis Sipols, formerly VP of Product Supply Purchases at Procter & Gamble.
- Earlier in 2021, CENOS won a €135,000 grant from the Latvian government. The total investments into the startup amount to €1.8 million, Crunchbase states.
- The company has already introduced two apps: Induction Heating and Antenna Design. It currently has about 130 community users — academic and hobbyists who access the software free for non-commercial purposes.
- Now CENOS is planning to develop and launch several new applications in 2022. These include apps for Electric Motors, Wireless Charging, Microwave Heating, and Electric Transformers. More apps are planned after the launch of a new community platform and open-sourcing app-building in early 2023.
- The fresh capital will be used to scale the startup’s platform with new vertical applications and to build market penetration via sales channels.